Exam Questions 100% Well Answered.
Contract - Answer A legally binding agreement between two or more parties
Bilateral contract - Answer Both parties take on an obligation
Unilateral contract - Answer One party assumes an obligation, can be made to the whole world
Differences between Offer and ITT - Answer - Offer is part of the negotiations
- ITT is merely an indication of a willingness to start negotiations
- Offer can form a contract when accepted, an ITT cannot
ITT - Answer 1) Ad in a newspaper (Partridge)
2) Shop window (Fisher v Bell)
3) Self-service shop (Pharmaceutical society of GB)
4) Auctions (Harris)
5) Requests for information
Offer - Answer 1) Vending machine - makes the offer
2) Giving of information (Harvey v Facey)
, Ending an offer - Answer 1) Lapse of time
2) Revocation
3) Rejection
4) Counter-offer
5) Death of offeror
6) Death of offeree
Acceptance has to be positive and unqualified - Answer - Response of 'yes' not 'yes, but'
- If the offeree attempts to vary the terms this is then a counter-offer (Hyde v Wrench)
Request for information - Answer Not a counter-offer, do not terminate the offer and it is still open to
acceptance (Stevenson v Mclean)
Forms of acceptance - Answer - Words: can be said or written
- Conduct: general silence or inaction is not acceptance, a positive act is needed
- Any acceptance other than what is specified is unlikely to be valid (Yates v Pulleyn)
Specified methods of acceptance - Answer Only acceptance by specified methods will be binding (Tin v
Hoffman)